Market-led Innovation-driven Business Model Development for Personalized Products
Project Description
The project offers students in business to work in a group with engineers and programmers to develop products that are demand-led where innovations and engineering follow the demand. The marketing team operates on an evidence-based approach and distill the evidence into product descriptions on which the technical team is to develop and personalized the products to meet the demands. The business team is responsible for integrating the engineering team into the marketing and testing of the products with clients. At the end of the development, the team is to test the products in funding campaigns on platforms such as Kickstarter to further their experiences in the creation of an entrepreneurial startup.
Supervisor
LAM David Chuen Chun
Quota
2
Course type
UROP1000
UROP1100
UROP2100
Applicant's Roles
Market research of wearable heath care luxury product for the eye.
Ocular-olfactory-sleep wearable market and product definition
Product concept-engineering translation, field testing and validation.
Pricing research and validation
Customer satisfaction monitoring and service model.
Ocular-olfactory-sleep wearable market and product definition
Product concept-engineering translation, field testing and validation.
Pricing research and validation
Customer satisfaction monitoring and service model.
Applicant's Learning Objectives
Learn using market data to drive product development in a product team
Learn to refine product definition to increase client comfort to facilitate recurring product use by client
Learn to develop tools to monitor customer usage patterns and develop service models to maintain usage recurrence.
Learn to cross-sell during product monitoring and client servicing.
Learn to refine product definition to increase client comfort to facilitate recurring product use by client
Learn to develop tools to monitor customer usage patterns and develop service models to maintain usage recurrence.
Learn to cross-sell during product monitoring and client servicing.
Complexity of the project
Challenging